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Fixed tax regime for small traders proposed.

ISLAMABAD: The business community proposed on Monday the idea of fixed tax regime for the small traders to encourage them to be part of tax net.

A consultative meeting between the Traders Associations and Federal Board of Revenue (FBR) representatives was held in the Broadening Tax Base Zone (BTB), Islamabad to find ways of broadening the tax base.

The Consultative Meeting was chaired by Director General BTB Mir Badshah Khan Wazir and was attended by Commissioner BTB (HQ) and Commissioner BTB Zone Islamabad.

The BTB Zone Islamabad had invited Traders Association of G-11 Markaz and F-11 Markaz, Islamabad to seek business community's views on broadening the tax base.

The Traders Associations were represented by Aftab Gujjar and Mahar Khuda Dad, Presidents of Traders Associations of G-11 and F-11 Markaz respectively along with their office bearers.

The Director General BTB apprised the participants about the significance of broadening of tax base in enhancing national tax revenue. He stated that due to smaller tax base, the burden gets shifted to existing taxpayers.

He stressed on the need to have cooperation of trade bodies in the identification and enrollment of potential taxpayers and sought their help to hold facilitation camps in their respective areas.

The representatives of trade bodies appreciated the initiative of DG BTB for holding the consultative meeting.

They shared views on the difficulties' faced by the business community in the enrollment and filing of returns.

They agreed to extend cooperation in holding awareness and enforcement camps of BTB Zone in their respective areas.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:9PAKI
Date:May 7, 2019
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